Coca-Cola signals China intent with Shanghai shares move
Coca-Cola has unveiled plans to list on the Shanghai stock exchange.
The soft drinks giant said yesterday it had begun talks with the Chinese authorities over securing a secondary listing in Shanghai – potentially providing a platform to accelerate its growth in the local market. Sprite, a Coca-Cola brand, is already China’s top-selling soft drink.
“We are interested in exploring the opportunity of listing our stock on the Shanghai Stock Exchange,” said Geoff Walsh, Coca-Cola communications director for Asia. “We continue to have positive discussions with Chinese government officials as we look at this opportunity.”
Overseas investors are not currently allowed to list in the economic powerhouse but the market is set for liberalisation in the coming months.
Coke, which is listed in New York, becomes the latest in a string of foreign companies to express an interest in listing in Shanghai.
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